Brazileager to ensure a productive session in which consensus is reached on key economic priorities, proposed a Much shorter closing statement than in recent years, a measure already negotiated with other members, according to a Brazilian government source and another source familiar with the draft. The country South American is the current president of the G20.
The latest draft, still in the finalization phase, mentions the rrisks of global fragmentation and conflict in general terms, but omits any direct reference to the Russian invasion of Ukraine or the war between Israel and Gaza, the sources said.
G20: what are the main concerns of the countries
Finance officials and central bankers from the United States, China, Russia and the world’s other largest economies will meet in Sao Paulo to review global economic developments at a time of Slowing growth, growing strains from record debt loads, and concerns that inflation still cannot be controlled, are keeping interest rates high.
He International Monetary Fund He said last month that the chances of a “soft landing” in which inflation falls without triggering a painful global recession had increased, but warned that global growth and world trade remained below the historical average.
G20: differences over the closing document
Russia’s invasion of Ukraine almost exactly two years ago shook the G20, exposing long-standing fissures within the group and frustrating the efforts of the G20 officials for reaching consensus on a final declaration, or communiqué, after their meetings.
India and Indonesia, which held the G20 presidency before Brazil, opted to draft statements summarizing areas of agreement and pointing out dissenting voices – specifically Russia – but even that could prove difficult given the bitter divisions over the war. of Gaza, which has lasted for four months now.
The war broke out when ministers last met in October in Marrakesh, Morocco, intensifying divisions between The United States and its Western allies, and the non-Western countries of the G20.
G20: what are the issues that Brazil will raise
Brazil wants to focus this week’s debates on ending inequality, reform international taxation, address sovereign debt difficulties and work for sustainable development.
The reforms of the Multilateral banks and financing the fight against climate change They will feature more prominently at the spring meetings of the IMF and World Bank in Washington in April, according to the Brazilian source.
The Secretary of the Treasury of the United States, Janet Yellen, has planned underline the importance of the G20 body, highlighting collaborative efforts to address global challenges such as sovereign debt and the COVID-19 pandemic, a senior US official said.
An unresolved question is to what extent The United States, Japan and Canada will prevail in demanding a mention of the economic impacts of geopolitical conflicts in the statement, said the first Brazilian official.
Source: Ambito
